^That sounds reasonable, backing up a lot of forum talk. If the softening continues, the remaining big relocations that happen will be able to move uniqueness to the list of requirements instead of preferences. Should that happen, the suburban sites are diminished because no matter how different they are from each other, they are all about the same when compared to an urban site in downtown Dallas or Fort Worth, and maybe Las Colinas if living or working or hanging out around Lake Carolyn is able to become a thing.

I don't remember that Plano ever had a project anywhere near the size of Wade Park go into hibernation, but cumulatively I'd bet the scale was of unfinished deals had been similar after Plano's initial generation of remarkable employment center growth.

I have always felt that Legacy West sort of sucked the life out of everything else around it while it was such a hot ticket. It will be fun to see what happens with Legacy East if any of that gets off the ground. Plano has a solid reputation building live-work-play environments that seem to be well received even if flawed by their lack of connectivity and surrounded by an expensive tollway system. There has been some talk about the strain on workforce availability and the excessive costs associated with driving in from the south which has shifted the focus of relocations and expansions south to less costly environments closer to the city center and airports. I also wonder how much relocation talk is currently being constrained by Amazon, nobody is going to want to go where they go since that move will suck the life out of talent availability wherever they land.

Amazon, nobody is going to want to go where they go since that move will suck the life out of talent availability wherever they land.

I think there is a large component to this, but not because they suck the talent but rather because they are doing very public legwork concerning amenities/concessions/buildout that normally is very private and very costly. Every mega company is going to have a template they can copy once this is completed.

Will have to see how it gets reborn, that's a pretty big hole in the ground for whatever ends up going on top of it. Wade Park was a very ambitious project and maybe it would have done better had it come out of the ground on schedule and not get delayed. That delay seemed to benefit Legacy West.

I would assume that a number of tenants that backed out would still be open to signing a new lease... And I'm sure they've been working over the past year or so to get new commitments. I doubt they would get any new funding if they didn't already have some signed leases. I'm just confused as to where they already spent $130 million??

Kelley USA wrote:I would assume that a number of tenants that backed out would still be open to signing a new lease... And I'm sure they've been working over the past year or so to get new commitments. I doubt they would get any new funding if they didn't already have some signed leases. I'm just confused as to where they already spent $130 million??

Good question, is there $130 million worth of work in grading the land, utilities, some roads and digging that giant swimming pool?

Well never say never, but this does sound a little more promising. The thing that really stood out was the expected pace of build-out and the fact that they have not downsized the development at all. Assuming that if you're getting $850 million in new funding then you MUST have quite a few tenants signed and still on-board for the retail / restaurant space.

Again, have always been a fan of this proposal so would love to see it happen!

Oh wow If that funding really does come through, It looks like Wade Park might actually get off the ground. A lot can happen with $850 Million, and if its all for only phase 1, Somethings GOT to be built.

I wonder if all the tenants that backed out will come back? or new tenants will sign on once things get moving again.

I haven't gone this close to a real estate foreclosure before. But I wonder if the answer was for the developer to give up some of the upside to the lender either in the form of a promote or simply changing the tiers in the waterfall agreement. Either way the "Platinum Corridor" is still booming and once they get this development in the right track again there still is tons of demand out there.